A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.

The more widespread use of body cameras will make it easier for the American public to better understand how police officers do their jobs and under what circumstances they feel that it is necessary to resort to deadly force.

Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.

The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is not just a framework for utopia,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.

When Adm. James G. Stavridis took over the military’s Southern Command in late 2006, his French was excellent but he spoke no Spanish. Not content to rely on interpreters, he put himself on a crash course to learn the language.

Over the next three years, his fluency was measured not only in the high-level meetings he conducted in the native tongue of his military hosts. He also read the novels of Gabriel García Márquez, the Nobel laureate from Colombia, in the original rich and lyrical Spanish.

Now Admiral Stavridis’s boss, Defense Secretary Robert M. Gates, has given him a new assignment, which starts Tuesday.

As the new American and NATO commander in Europe, Admiral Stavridis, 54, becomes the first naval officer appointed to a position previously held by famed ground-warfare generals.

It is two jobs in one, as he oversees all American forces under the United States European Command and — far more important today — serves as the supreme allied commander, Europe, NATO’s top military position. He takes the NATO command as the future viability of the alliance is tested by whether he can rally members to make good on their promises to the mission in Afghanistan.

Adm. Stavridis obviously is a talented officer. Alas, his chance of winning more meaningful support from the Europeans for the mission in Afghanistan is nil. The Europeans don’t want to fight, especially in a conflict which they don’t view as their own.

But the most important question these days should be: why does NATO still exist – at least, a NATO dominated by America? No one, not even Russia, threatens “Old Europe.”

Moreover, Europe is well able to defend itself. The continent has a collective GDP more than ten times that of Russia, and even larger than that of America. Europe’s population, too, is bigger than those of both Russia and the U.S. The Europeans needed America’s military aid during the Cold War. But no longer.

What of the Eastern Europeans, who worry more about Moscow? We should wish them well, but we have no cause to threaten war on their behalf. Security guarantees should not be distributed like party favors, inexpensive gifts for friends and acquaintances alike. Rather, security guarantees should be issued to defend America. It is hard to make the argument that, say, Albania, is relevant to America’s security, let alone vital to it. Two decades after the end of the Cold War, we should start reshaping our alliance commitments to reflect our vital interest.

President Barack Obama, like President George W. Bush before him, has gone hat-in-hand to the Europeans to request (beg?) for more troops for Afghanistan. Alas, the European governments gave him the back of their collective hand: they may like President Obama more than his predecessor, but that doesn’t mean they, or their peoples, want to do any more in Afghanistan.

When asked by the Britons to attack Afghan rebels, the commander of a [Czech] special operations unit (SOG) said “we’re not going to, it’s dangerous,” then ordered his men to get in trucks and return to the base.

On another occasion, an SOG commander decided that the task the Britons had set ran counter to the unit’s mission.

Yet another time, a commander said he could not help as his soldiers were on vacation.

“I find it hard to recover from the news I get about this unit. It harms the reputation of the army,” Czech Defence Minister Vlasta Parkanova told the daily.

Some help.

Obviously, some European troops, including Czechs, fight hard and well. But most of the countries deploy their forces to ensure that they don’t have to fight. NATO provides precious few benefits for America in Europe or elsewhere. After 60 years, the U.S. should leave NATO to the Europeans.

We are in the middle of a nine-day debate at The Economiston the proposition that “the rich should pay higher taxes.” I’m on the “no” side of the proposition. French economist Thomas Piketty is on the “yes” side, arguing that we ought to impose an 80 percent tax on those with the highest incomes.

Are website visitors actually reading the statements, or do their votes just reflect their existing political biases? Are they mainly Europeans or Americans? We don’t know, but majorities in favor of 80 percent tax rates does not bode well for economic freedom.

On Friday, Piketty and I post our rebuttals to opening statements, and next week we make closing arguments.